Why the 1980s recession haunts the Fed
Why the 1980s recession haunts the Fed
- February 6, 2023
- Eric Swanson, economics, The Hill, Yahoo News, The Fresno Bee, The Modesto Bee, Feb. 6, 2023
“Inflation looks like it has already peaked and never got near the 14.5 percent peak reached in 1980, so the Fed will not have to raise rates as high as it did back then,” said Eric Swanson, an economics professor at the University of California, Irvine. “We also benefit today from the experience that we gained back then: Everyone knows that inflation was high and was successfully brought down with high interest rates, so we know the Fed can do it again,” he said.
For the full story, please visit https://thehill.com/policy/finance/3843154-why-the-1980s-recession-haunts-the-fed/.
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